Question:

If a key date falls on a Saturday or Sunday, what day is considered two business days prior to that date?

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I need to use the LIBOR interest rate that is two business days prior to the 14th and 15th. If either or both the 14th or 15th falls on a weekend, which date do I use? Wednesday or Thursday? Are the 14th and 15th looked at as a Friday or Monday?

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  1. That would be Thursday.

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